CX Institutional Increases Stake in NOV Inc. $NOV

Key Points

• CX Institutional significantly increased its stake in NOV Inc. by 2,046.5%, acquiring an additional 55,828 shares to total 58,556 shares worth approximately $728,000.
• NOV's stock recently opened at $13.45 with a market cap of $4.99 billion and a debt-to-equity ratio of 0.26, indicating a stable financial position.
• The company reported Q2 earnings of $0.29 per share, missing analyst estimates, while its revenue for the quarter was $2.19 billion, slightly exceeding expectations but down 1.3% from the previous year.

CX Institutional boosted its stake in shares of NOV Inc. (NYSE:NOV - Free Report) by 2,046.5% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 58,556 shares of the oil and gas exploration company's stock after buying an additional 55,828 shares during the quarter. CX Institutional's holdings in NOV were worth $728,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. ProShare Advisors LLC raised its stake in NOV by 6.1% in the fourth quarter. ProShare Advisors LLC now owns 18,204 shares of the oil and gas exploration company's stock valued at $266,000 after buying an additional 1,042 shares during the last quarter. Vident Advisory LLC grew its position in NOV by 9.6% during the first quarter. Vident Advisory LLC now owns 12,860 shares of the oil and gas exploration company's stock valued at $196,000 after buying an additional 1,126 shares during the period. Keeley Teton Advisors LLC raised its stake in shares of NOV by 1.1% during the 1st quarter. Keeley Teton Advisors LLC now owns 107,317 shares of the oil and gas exploration company's stock worth $1,633,000 after buying an additional 1,128 shares during the period. Northwestern Mutual Wealth Management Co. lifted its stake in NOV by 30.5% in the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 4,937 shares of the oil and gas exploration company's stock valued at $75,000 after buying an additional 1,155 shares in the last quarter. Finally, Voya Investment Management LLC boosted its stake in NOV by 2.8% during the 1st quarter. Voya Investment Management LLC now owns 48,413 shares of the oil and gas exploration company's stock worth $737,000 after purchasing an additional 1,309 shares during the last quarter. Institutional investors own 93.27% of the company's stock.

NOV Stock Up 0.7%

Shares of NOV stock opened at $13.45 on Friday. The stock has a 50-day simple moving average of $12.85 and a 200-day simple moving average of $12.96. The company has a debt-to-equity ratio of 0.26, a current ratio of 2.58 and a quick ratio of 1.72. NOV Inc. has a 52-week low of $10.84 and a 52-week high of $16.86. The firm has a market cap of $4.99 billion, a price-to-earnings ratio of 11.02, a P/E/G ratio of 3.84 and a beta of 1.34.

NOV (NYSE:NOV - Get Free Report) last announced its quarterly earnings data on Monday, July 28th. The oil and gas exploration company reported $0.29 earnings per share for the quarter, missing the consensus estimate of $0.30 by ($0.01). NOV had a return on equity of 7.25% and a net margin of 5.36%.The firm had revenue of $2.19 billion for the quarter, compared to analyst estimates of $2.16 billion. During the same period in the previous year, the business posted $0.57 EPS. NOV's revenue for the quarter was down 1.3% compared to the same quarter last year. NOV has set its Q3 2025 guidance at EPS. On average, equities research analysts expect that NOV Inc. will post 1.4 earnings per share for the current fiscal year.

NOV Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 26th. Investors of record on Friday, September 12th were given a dividend of $0.075 per share. This represents a $0.30 annualized dividend and a dividend yield of 2.2%. The ex-dividend date was Friday, September 12th. NOV's dividend payout ratio is currently 24.59%.

Analysts Set New Price Targets

A number of brokerages have issued reports on NOV. Piper Sandler cut their target price on NOV from $16.00 to $14.00 and set a "neutral" rating on the stock in a research report on Thursday, August 14th. Susquehanna set a $17.00 price target on NOV and gave the company a "positive" rating in a research note on Wednesday, July 30th. Royal Bank Of Canada dropped their price target on NOV from $19.00 to $18.00 and set an "outperform" rating for the company in a research report on Wednesday, July 30th. JPMorgan Chase & Co. cut NOV from an "overweight" rating to a "neutral" rating and cut their price target for the stock from $17.00 to $15.00 in a report on Wednesday, July 30th. Finally, Stifel Nicolaus decreased their price objective on NOV from $22.00 to $20.00 and set a "buy" rating on the stock in a report on Wednesday, July 30th. Seven investment analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and three have given a Sell rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $16.56.

NOV Company Profile

NOV Inc designs, constructs, manufactures, and sells systems, components, and products for oil and gas drilling and production, and industrial and renewable energy sectors in the United States and internationally. It operates through two segments, Energy Equipment, and Energy Products and Services. The company provides solids control and waste management equipment and services, managed pressure drilling, drilling fluids, premium drillpipe, wired pipe, drilling optimization services, tubular inspection and coating services, instrumentation, downhole tools, and drill bits.

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